I study a model of political agency where a media firm plays a monitoring role between the electorate and the politician. The analysis focuses on the design of a legal framework for the press such that corruption is minimized. I find that an antidefamation law punishing media that publish false...

We consider a directed search environment where capacity constrained sellers reach uncoordinated buyers through costly advertising while buyers observed all prices probabilistically. We show that: (i) the equilibrium advertising intensity has an inverted U-shape in market tightness, (ii) the...

This paper investigates a common criticism of competitive elections: candidates pander to voters and choose the most popular platform, regardless of it being optimal for the voters. I study an election with two perfectly informed candidates. Voters share common values over the policy outcome of...

The quasi-linear fuzzy modelling of Filev (1991) is used to estimate the relationship between the number of managers and employees in a firm. The results form the basis for the classification of firms into small and large businesses. Application to a data of Australian firms shows an evolution...

The paper considers some of the problems associated with the indirectly measured components of financial service outputs in the System of National Accounts (SNA), termed FISIM (Financial Intermediation Services Indirectly Measured). The paper utilizes a user cost and supplier benefit approach to...

We look at imperfectly competitive markets where some consumers might be budget-constrained. We find that the equilibrium price under budget constrained demand (say, pB ) is often higher than the equilibrium price under standard demand (say, pA ). The relationship between pB and pA depends on...

It is generally believed that intergenerational coresidence by elderly parents and adult children provides security for parents in their old age. In many countries, such intergenerational coresidence is the most common living arrangement. Using a nationally-representative dataset and a program...

This paper experimentally investigates the effects of a costly punishment option on cooperation and social welfare in long finitely repeated public good contribution games. In a perfect monitoring environment increasing the severity of the potential punishment monotonically increases both...

We consider the extent to which different time-series models can generate simulated data with the same business cycle features that are evident in U.S. real GDP. We focus our analysis on whether multivariate linear models can improve on the previously documented failure of univariate linear...

This review attempts to identify treatments of corruption that draw upon characteristics of underdevelopment either as causes or as consequences. It focuses on three aspects of corruption in developing economies: red tape, rent-seeking, and the abundance of intermediaries. Red tape is presented...